Courier Capital LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Courier Capital LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,435 shares of the home improvement retailer’s stock after selling 433 shares during the quarter. Courier Capital LLC’s holdings in Lowe’s Companies were worth $5,466,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LOW. Klingenstein Fields & Co. LP increased its stake in Lowe’s Companies by 1.0% during the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after buying an additional 39 shares during the period. Gen Wealth Partners Inc boosted its holdings in shares of Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after buying an additional 40 shares during the period. Cordatus Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after buying an additional 41 shares during the period. O Brien Greene & Co. Inc boosted its holdings in shares of Lowe’s Companies by 1.5% in the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after buying an additional 42 shares during the period. Finally, FFT Wealth Management LLC boosted its stake in Lowe’s Companies by 3.1% during the 4th quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock valued at $340,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Truist Financial set a $264.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird lowered their price objective on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Mizuho set a $280.00 target price on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.12.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $225.35 on Monday. The company has a market capitalization of $126.29 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.96 and a beta of 0.92. The company has a 50-day moving average of $223.72 and a 200-day moving average of $241.40. Lowe’s Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter last year, the company posted $3.06 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.13%. Lowe’s Companies’s payout ratio is currently 39.77%.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.